The baht this week is 35.30-36.15 baht per dollar/SET, support level 1,350 points, keeping an eye on the Fed meeting.
Kasikorn Research Center summarizes the baht movement during the week. The baht hit its weakest level in more than two months at 35.88 baht per dollar. before recovering partially at the end of the week The baht weakened along with the yen and some Asian currencies at the beginning of the week before the Bank of Japan (BOJ) meeting, where the market expected the BOJ to maintain monetary policy. And there may not have been many signals regarding monetary policy adjustments. However, the baht fluctuated in a depreciating range later in the period amid concerns about the situation and outlook for the Thai economy. In addition, the baht also weakened following selling pressure. Continuous net Thai stocks from foreigners Against the dollar That is supported by good US economic data, which supports the possibility of seeing the Fed maintain interest rates at a high level for a long time. However, the baht partially recovered at the end of the week following selling pressure. dollars to adjust positions before US inflation numbers On Friday night (26 Jan.) and before the Fed meeting on 30-31 Jan.
For the week between 29 Jan. – 2 Feb. 2024, KBank expects the baht’s movement range to be 35.30-36.15 baht per dollar. Factors that need to be followed include signals of foreign capital. Results of the Fed meeting (30-31 Jan.), BOE meeting results and Dec. economic and salary reports. 2023 of the BoT, labor market data for January of the United States, 4Q2023 GDP of the Eurozone, and the manufacturing sector PMI index in January. of China, Japan, Eurozone and England
While the movement of the Thai stock market Thai stocks fell sharply at the beginning of the week. and reached its lowest point in nearly 3 years and 3 months at 1,352.48 points, facing continued selling pressure from foreign investors. Especially in bank stocks after 4Q23 results came out lower than expected. In addition, there are negative factors from the FPO news. Thai economic forecasts for 2023 and 2024 were downgraded. Thai stocks rebounded briefly in the middle of the week, supported by preparations to set up a stock support fund and the Chinese government’s economic stimulus measures. and from political factors in the country However, Thai stocks fell again during the rest of the week. Amid pressure to sell stocks in electronic component manufacturers due to concerns about operating results. and selling pressure to reduce risk before the Fed meeting next week (30-31 Jan.)
Week 29 Jan. – 2 Feb. 2024 KSecurities expects support levels to be at 1,360 and 1,350 points, while resistance levels are at 1,380 and 1,390 points, respectively. Factors that need to be followed include the Fed meeting (30-31 m. c.) Direction of foreign capital 4th quarter results of 2023 of Thai companies, labor market data for January US Manufacturing PMI Index for January of the United States, China, Japan, Eurozone, England, as well as the Eurozone’s 4th quarter 2023 GDP figures.
#SET #baht value #Fed meeting
2024-01-27 02:18:02
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